VAT Control/VAT Cash Control/VAT Payable
Question asked by Andy Sellers 7 years ago
Whilst I've been running Clearbooks on test for the past year I've only just started using it to calculate my VAT Return. My VAT quarterly calculation works fine but I don't know what VAT Cash Control, VAT Control and VAT Payable are for and what they do??
My VAT Control shows an opening Credit balance, my VAT Payable shows an opening Debit balance and my VAT Cash Control shows a zero opening balance.
When I know what they are for I'd like to re-set the balances to true figures and I guess this will need me to create a Journal or two??
Can anyone advise best steps??